Strategic Management Review > Vol 1 > Issue 1

Corporate Strategy: Past, Present, and Future

Emilie R. Feldman, The Wharton School, University of Pennsylvania, USA,
Suggested Citation
Emilie R. Feldman (2020), "Corporate Strategy: Past, Present, and Future", Strategic Management Review: Vol. 1: No. 1, pp 179-206.

Publication Date: 04 Mar 2020
© 2020 now publishers, Inc.
Management structure, governance and performance,  Strategic management
Corporate strategyfirm boundariescorporate scopemulti-business firm


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In this article:
What is Corporate Strategy? 
A Framework for Corporate Strategy 
Future Directions in Corporate Strategy 
Corporate Strategy in Practice and Policy 


This article reflects on the development of corporate strategy as a field of research, seeking to accomplish three main objectives. First, I position corporate strategy within the broader field of strategy research. I argue that because corporate strategy addresses the conceptually distinct question of how managers set and oversee the scope of their firms, scholars in this domain require a unique organizing framework for analyzing it. Second, I offer such a framework, which disaggregates the different topics and phenomena that corporate strategy scholars study into three categories: intra-organizational, inter-organizational, and extra-organizational. Third, I use this framework to lay out an agenda for future research in corporate strategy, as well as some ideas for linking research more closely to practice and policy-making. Given the significance of corporate strategy from academic, practical, and regulatory standpoints, my hope is that this article will chart a productive course forward for scholars, practitioners, and policy-makers alike.